Chennai-based real estate firm, Siva Shelters & Construction has settled it’s dues with IL&FS Financial (IFIN) by making a payment of Rs 80 crore to the firm before December—end deadline.
IFIN, a subsidiary of IL&FS, the bankrupt infrastructure financing and construction company, had disbursed Rs 50 crore as loan to SSCL.
The loan—part of a sanctioned Rs 175 crore—was secured by way of an exclusive registered mortgage over approximately 17 acres of land parcels in Chennai.
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